Back in August 2011 I read a post by internet entrepreneur Frank Paul who turned £100 into £10,000 by buying and selling domain names. It’s a fascinating post which you can read here and an updated version here.
At the time I had only just dipped my toes into the domaining world after selling my first domain (with Frank’s help and advice) and I was beginning to see the money making potential of investing in them.
In the Spring of 2012 I bought 5 domains from one buyer on AcornDomains which to this day I believe has been my best haul. I paid £30 for each of them, £150 in total and those domains were
I can’t remember my exact reasoning for buying them (I probably didn’t know what I was doing in all honesty), but I do distinctively remember thinking “how the fuck did I just pick up VegasCasino.co.uk for £30?” which I thought was the best of the bunch. I knew I had got a bargain.
I don’t think I realised this at the time, but most of the domains there describe a service, something I have since found has worked best (for me at least) in terms of end user sales.
ManchesterTaxi.co.uk would hopefully appeal to a taxi company in Manchester and I felt VegasCasino.co.uk would make a perfect brand name for a Casino site.
I think that BeautyMakeovers.co.uk, FuneralCompany.co.uk and PrivateDentalSurgery.co.uk had the best potential and I’ll explain why. Not only do they describe a service well, but they also have a good volume of potential buyers. There’s thousands of funeral companies, private dental surgeries and beauty and makeup artists in the UK. I felt if I attempted to contact each of them then surely at least one of them would be interested in buying.
Anyway, I’m waffling here are the sales figures so far.
ManchesterTaxi.co.uk – sold for £4,000 in summer 2013. I actually tried to build a lead generation business from this which you can read more about in this post here. I got the site ranking 2 in Google for ‘Manchester taxi’ before selling it to a taxi company in Manchester. In total I think I spent about 10-15 hours working on the site, ranking it and contacting taxi companies. I’d also never have got this price without Frank’s help, I think I was originally offered £2,000, Frank helped me get twice that.
FuneralCompany.co.uk – sold for £500 in March of this year. I attempted to contact 300 funeral director companies before agreeing on a sales price. In total I spent about 4 hours finding and emailing funeral sites with only one getting back to me, an extremely boring task but worth it in the end.
The rest so far remain unsold, I haven’t made any attempts as of yet to sell them, I used to think that the best way to sell them was to wait for companies to contact me about them, but it’s been 1 and a half years since I bought them and I’ve had no enquires – I could be waiting a very long time.
Buying and selling domains isn’t part of my core business, it’s just something I have an interest in and that I do on the side. It’s taken a lot of research, practice, learning and watching others for me to develop a better eye for ‘what makes a good domain’, and I’m still learning all the time.
I’m hoping that when I do get around to actively selling those other domains (must stop procrastinating) that I’ll soon have my very own ‘turning £xxx into £xx,xxx with domain’ posts. Only time will tell.